Duxbury Inks Energy Savings Deal with Pegasus Renewable
Wednesday, January 11, 2012 11:56 AM
The Town of Duxbury has entered into an innovative energy cost savings agreement with Pegasus Renewable Energy Partners, LLC of Marstons Mills, Mass.
The town has agreed to purchase 1.2MWh of net metering credits generated by Pegasus via a solar array project in the town of Acushnet. The net metering credits are credits with a cash value that can be used to pay the town’s NSTAR bills. Pegasus will own, operate and maintain the solar array. The town of Duxbury will purchase the “net-metering” credits at an effective discount of 18.5 cents per dollar. Once operational, the town of Duxbury will save an estimated $25,000 to $30,000 per year under the deal.
This “net-metering” arrangement was made possible under the state’s Green Communities Act passed in 2007. Net-metering allows energy producers to sell renewable energy back into the grid in exchange for net metering credits.
The Acushnet solar project, which is currently in the permitting stage, is scheduled to be complete by the end of this year.
The broker for the agreement was Duxbury Energy LLC, led by Mark Moriarty
The town’s Alternative Energy Committee, led by Jim Goldenberg and Josh Cutler, negotiated the agreement.
“This is a win-win deal for all parties. When complete, the town will see a significant savings on our energy bills, “ said Cutler. “We thank Town Manager Richard MacDonald for his support in making this happen.”
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